The Central Banks of Iran and Russia are seeking to create a gold-backed stablecoin for use in foreign transactions, in a gambit to further cut trade ties with the U.S. dollar. rather than fiat currencies like the dollar. According to a recent report by Russia's news agency Vedomosti, both countries--sanctioned by various Western nations on import and export restrictions--would be working on a ...
Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez have reportedly said the two countries aim for greater economic integration that includes the development of a common currency.
Bitcoin traded higher this morning, with the cryptocurrency prices trading above the $18,800 level on Friday. Ethereum, also traded higher, surging past the key $1,400 mark on Friday. Aptos was the top gainer over the prior 24 hours, while Fei USD turned out to be the biggest loser.
Allianz chief economic adviser and noted economist Mohamed El-Erian believes the retreating dollar indicates how the markets are reassessing the Federal Reserve's policy vis-a-vis other advanced economies. What Happened: The dollar index fell significantly this week following the release of the employment data that showed December payrolls rose more than expected.
The migration of Russians into neighboring countries following Vladimir Putin's invasion of Ukraine has boosted the currencies of former Soviet republics to the top of global rankings this year.
The Russian rouble plunged to its weakest level in over seven months against the dollar on Monday and was on the path to its biggest single-day drop since July.
Roblox Corp shares are trading lower by 10.44% to $29.67 Thursday morning after the company reported November 2022 key metrics. What Happened? Roblox says the strengthening of the US Dollar against the Euro, British Pound, and other foreign currencies during 2022 has had an adverse impact on bookings.
US stocks closed higher on Tuesday, after the recent data showed the smallest annual rise in inflation in around one year. The consumer price index rose 0.1% in November following a 0.4% increase in the previous month, according to the Labor Department. The US dollar also dropped over 1% against a basket of major peers on Tuesday following the release of inflation data.
During the beginning of 2023, the dollar is expected to strengthen along with some volatility, which would mean the Chinese Yuan may weaken with large fluctuations, said the UBS strategy team in a note.
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